Its task for most of the past 100 years has been to regulate growth — not to manage decline. Much of the commentary you saw prior to 2008, such as Ben Bernanke’s sincere lack of concern about a US housing bubble (“I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis…”) is, of course, duplicated today as we confront a similar endgame in sovereign debt.
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I have repeatedly demonstrated that – despite the false divide-and-conquer tactics of the mainstream parties and mainstream media – the overwhelming majority of Americans agree on the most important issues facing our country.
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Charlotte boasts a superstar protest-magnet of its own – Bank of America — that could conceivably attract more activists than the convention attracts delegates.
We are waiting for more details but with that we have Belgium-Dexia CDS compression, an imminent Belgian rating downgrade, and the unleashing of the completely unpredictable domino effect.
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Dispatches From The Front 